Enphase Energy (NASDAQ:ENPH – Get Free Report) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06), Briefing.com reports. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period last year, the firm earned $1.16 earnings per share. The business’s revenue was down 57.3% compared to the same quarter last year. Enphase Energy updated its Q3 2024 guidance to EPS.
Enphase Energy Stock Up 2.1 %
NASDAQ ENPH traded up $2.48 during mid-day trading on Friday, reaching $120.00. 2,370,270 shares of the company’s stock traded hands, compared to its average volume of 4,188,239. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $175.59. The company has a fifty day simple moving average of $115.21 and a 200-day simple moving average of $115.31. The company has a current ratio of 4.23, a quick ratio of 3.78 and a debt-to-equity ratio of 1.36. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 61.21, a P/E/G ratio of 5.40 and a beta of 1.71.
Insider Buying and Selling at Enphase Energy
In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the acquisition, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The disclosure for this purchase can be found here. 3.40% of the stock is owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on Enphase Energy
Enphase Energy Company Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
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